The DAX fell initially during the course of the week, but found more than enough support at the €10,400 level to turn things back around and form a
The DAX fell initially during the course of the week, but found more than enough support at the €10,400 level to turn things back around and form a hammer. The hammer of course is very bullish, and if we can break above the top of it we should see this market reach towards the €11,400 level. We believe that the DAX is well supported below, so quite frankly we don’t have any interest in selling and fully anticipate seeing higher levels in the next several weeks as Germany looks strong at the moment.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
